Header$type=menu

How can a Professional Stock Broker Maintain His Accounts in Tally

This article describes how stock broker make his accounts more professionally like professional accountant and you’ll also learn about different transactions and journal entries relating to stock broking profession.

Like any other professional stock broking is loyal profession. Stock broker is a person who purchases and sells of shares on the behalf of investors. Investor can not buy or sell shares himself. Even, making of DEMET account, it is possible to purchase and sell shares easy way by investor.

But only authorized stock broker has been given power to open DEMAT account by SEBI. So, professional stock broker takes the commission of his work. That is called brokerage. Now after basic knowledge of stock broking and stock broker to know maintaining stock broker accounts is very necessary.

Tally’s new software Tally.ERP 9 gives power to professional stock broker to record all their accounts himself.

Step1. Create company of stock broking
Like other company creation, stock broker has also to create their own stock broking company in Tally.ERP 9 . Follow the following steps

Gate way of tally >> company info >> Create Company

If professional stock broker purchases and sells his own shares also, then he should create company account with inventory. Otherwise, only account is sufficient option in company creation.

a) Basic shares are counted in nos. and formal name is number like one share, or hundred shares. So stock measurement will be nos. as full form number.
b) Create also stock item , here you can write different company’s share , suppose reliance shares , tata shares , icici bank shares , hdfc bank shares etc .

Step 3. Pass the voucher entrya) When a person opens DEMAT account and direct approach to stock broker for buying shares at that time stock broker gets the cheque from party advance for buying the shares or even some authorized banks like SBI are providing online fund transfer for buying any company shares. but entry must be same

Not found any lectureVIEW ALLReadmoreReplyCancel replyDeleteByHomePAGESLecturesView AllRECOMMENDED FOR YOUCategoryARCHIVESEARCHALL LecturesNot found any lecture match with your request, please help to write it and send it to our email at vinod@svtuition.org for making this website free accounting and finance encyclopedia.Back HomeSundayMondayTuesdayWednesdayThursdayFridaySaturdaySunMonTueWedThuFriSatJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberJanFebMarAprMayJunJulAugSepOctNovDecjust now1 minute ago$$1$$ minutes ago1 hour ago$$1$$ hours agoYesterday$$1$$ days ago$$1$$ weeks agomore than 5 weeks agoFollowersFollowTHIS CONTENT IS PREMIUMPlease share to unlock